This work is aimed at appraising the impact of the regulatory and operational framework of microfinance banks on the consumer. It is illicited by the current negative complaints on the role of microfinance banks in the economy generally and consumers in particular since its birth. Generally, the banking industry is so strategic to the economy that naturally, everybody is a stakeholder. It act as lubricants of the economy custodians of the payment system, saving mobilization, financing trade, agriculture, industry, consumer activities, stimulate economic and assist consumers in providing micro credits. The cost of credit as evidenced in the high interest rate, the non-availability of branches in many rural communities and incessant distress of many micro-finance banks has become a source of concern for consumers who are gradually losing confidence in the system. The paper has examined the impact of the regulatory and operational framework and identified inhibitions and make recommendations for repositioning for better service delivery especially in the emerging digital age in banks operation.